You have placed a wager such that you will either receive nothing if you lose the bet or you will receive $10 if you win the bet. If your expected cash receipt is $9, then there is a 100 percent probability that you will win the wager.

Question

Quizplus · Accepted Answer

If the expected cash receipt is $9 and there is a 100 percent probability of winning the wager, then the wager would have to be $10. However, the amount you receive for winning the bet is also $10, so there is no profit and the expected cash receipt would be $0. Therefore, the statement cannot be true.

You Have Placed a Wager Such That You Will Either